Texas’ largest city is staring at some bleak economic numbers according to Texas Monthly. With oil and gas prices falling and Houston not being known as an innovation hub, some economists are wondering what will prop up the Houston economy in the near-term. It certainly is not a tourist destination. As Red has remarked, one of the worst things about Houston is no one ever comes to visit you and one of the best things about Houston is no one ever comes to visit you.
One interesting point the TM article makes is how the University of Houston led by Tillman Fertita (billionaire owner of bad restaurants and crappy resorts) and State Sen. John Whitmire killed off the University of Texas’ planned expansion on a 300 acre site just south of Loop 610. That project would have been a major engine of economic growth for the city, but was shit-canned because UH was afraid of any real competition. Maybe rightfully so. For a city of almost 5 million to have only two major universities (UH and Rice) and a smattering of smaller second or third tiers (TSU, HBU, St. Thomas, UH-Downtown) is almost criminal and clearly has held Houston back compared to other areas who apparently value higher education. Good work in protecting your turf at the expense of your community guys!